Pascual Laboratories eyes P4-billion sales for this year

MANILA, Philippines - Pascual Laboratories, Inc. expects to post P4 billion in sales this year, while its wholly-owned subsidiary Pharex Health Corp. is expecting an equally robust sales of P1.5 billion, company chairman Abrahan F. Pascual said.

In a press conference to launch Pharex’s new health advocacy, Pascual said the company continues to invest and expand to meet increasing demand for its various consumer care and pharmaceutical products.

He said Pascual Laboratories has earmarked P200 million for its capital expenditure for 2008-2009 for the continued expansion and implementation of quality controls on its various product lines.

Following the passage of the Generics Law in 1988, Pascual said, the company found an opportunity to manufacture generic off-patent medicines.

Pharex (which stands for pharmaceutical excellence) was formed to provide affordable quality medicines. Pascual reported that after 20 years, Pharex has been able to hit P1 billion in sales.

Because of the increasing popularity of generic medicines, Pharex is projecting a 25-percent growth in sales this year to P1.5 billion.

In line with its continued growth, Pharex has launched its advocacy for affordable, quality medicines “then and for always” called “Economix.”

Pharex president Tomas Marcelo Agana III said Economix is the company’s advocacy to provide Filipinos access to a wide range of premium quality, but affordable medicines.

Pascual Laboratories and Pharex use quality raw materials sourced from the open, global market and thus, doing away with the practice of transfer pricing done by multinational pharmaceuticals companies, Pascual said.

Pharex is then able to lower its prices by almost 50 percent, he added.